On 12 December 2011, the Canadian Minister of Industry announced that an out-of-court settlement had been reached with United States Steel Corporation (hereinafter 'US Steel') in relation to a dispute that arose from alleged non-compliance of undertakings that US Steel had given the Minister in the context of receiving regulatory approval for its acquisition of the Canadian steel manufacturer Stelco Inc. in 2007.
This case note briefly discusses the background to this first-of-its kind dispute in Canada, the settlement and the implications thereof that non-Canadian investors should be aware of when considering an investment in Canada.
Global Trade and Customs Journal